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Another rejection pushes Betr to look beyond PointsBet, and possibly towards one of Australia’s biggest names.
The battle for PointsBet has dragged on for months, but the storyline has finally taken a sharp turn. With Mixi rejecting Betr’s latest takeover attempt, attention is now turning to whispers of a much bigger play: a move on Entain’s Australian operations.
Mixi stands firm in PointsBet saga
The stalemate shows no signs of breaking, leaving Betr on the back foot.
Two of PointsBet’s biggest shareholders, Mixi with 38% and Betr with 19%, have been circling each other in a drawn-out bidding war. Betr’s most recent all-scrip takeover bid was swiftly dismissed by Mixi, which has shown little willingness to accept anything less than outright control.
For Betr, it’s a frustrating dead end. And for observers, it’s becoming clear that Mixi is holding the stronger cards in this battle.
A sensational pivot to Entain?
When one door closes, Betr may be eyeing another, much bigger one.
Reports from Australia suggest that Betr CEO Matt Tripp has already sat down with Entain executives in London. The talks, still in early stages, reportedly focused on a potential deal for Entain’s Australian arm.
If true, the pivot would be dramatic. Entain is the third-largest operator in the Australian wagering market, with a 17% market share. For Betr, acquiring such a stake would instantly transform its position in the sector, dwarfing the drawn-out PointsBet saga.
Entain’s struggles and its strengths
Regulatory pressure is biting, but the business remains resilient.
Entain has faced its fair share of turbulence. In New Zealand, it was forced to pay NZ$100m (US$58.4m) to Tab NZ as part of new legislation. In Australia, the operator faces civil penalty proceedings over AML and CTF breaches.
Yet despite these challenges, the company is far from weakening. In H1 2025, Australia and New Zealand revenues rose to £278.5m ($374.9m), an increase of almost 8% year-on-year. Its leadership, particularly CFO Rob Wood, has openly described New Zealand as a “big focus”, pointing to opportunities that could fuel growth for years to come.
Why Betr might take the leap
If PointsBet slips away, Entain could be the prize worth fighting for.
The attraction for Betr is obvious. By moving for Entain’s Australian business, it could leapfrog into a position of real influence. Instead of battling Mixi for a company where it holds only 19%, Betr could seize a far larger slice of the market in one bold stroke.
The hurdles, however, are high. Convincing Entain to sell, raising the capital, and clearing regulators would all be significant challenges. But in a market as competitive as Australia, bold plays are often the only way forward.
A tale of two battles
One fight may be ending, but another is only just beginning.
With Mixi tightening its grip on PointsBet, Betr looks increasingly boxed out of that deal. But the rumoured move on Entain suggests that the company is far from retreating.
Instead, it may be lining up a bigger, riskier gamble, one that could reshape Australia’s wagering market entirely.
For Entain, the question is whether it doubles down on both Australia and New Zealand, or trims its portfolio to focus on its most promising market. For Betr, it’s about finding a path out of the PointsBet deadlock and onto a new stage.
What happens next will set the tone for Australia’s betting industry for years to come.
Source: Gambling Insider
